Selasa, 22 Maret 2011

[A624.Ebook] Ebook Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke

Ebook Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke

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Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke

Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke



Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke

Ebook Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke

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Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy, by Ariel Ezrachi, Maurice E. Stucke

Shoppers with Internet access and a bargain-hunting impulse can find a universe of products at their fingertips. In this thought-provoking exposé, Ariel Ezrachi and Maurice Stucke invite us to take a harder look at today’s app-assisted paradise of digital shopping. While consumers reap many benefits from online purchasing, the sophisticated algorithms and data-crunching that make browsing so convenient are also changing the nature of market competition, and not always for the better.

Computers colluding is one danger. Although long-standing laws prevent companies from fixing prices, data-driven algorithms can now quickly monitor competitors’ prices and adjust their own prices accordingly. So what is seemingly beneficial―increased price transparency―ironically can end up harming consumers. A second danger is behavioral discrimination. Here, companies track and profile consumers to get them to buy goods at the highest price they are willing to pay. The rise of super-platforms and their “frenemy” relationship with independent app developers raises a third danger. By controlling key platforms (such as the operating system of smartphones), data-driven monopolies dictate the flow of personal data and determine who gets to exploit potential buyers.

Virtual Competition raises timely questions. To what extent does the “invisible hand” still hold sway? In markets continually manipulated by bots and algorithms, is competitive pricing an illusion? Can our current laws protect consumers? The changing market reality is already shifting power into the hands of the few. Ezrachi and Stucke explore the resulting risks to competition, our democratic ideals, and our economic and overall well-being.

  • Sales Rank: #2233743 in Books
  • Published on: 2016-11-14
  • Original language: English
  • Dimensions: 9.25" h x .59" w x 5.91" l, .0 pounds
  • Binding: Hardcover
  • 368 pages

Review
This is a groundbreaking, critical work―a major contribution to the field of competition law. (Frank Pasquale, author of The Black Box Society)

Ezrachi and Stucke provide a compelling analysis challenging the orthodoxy that modern technology empowers consumers. Their findings will send a shiver down the spine of consumers, businesses, public policy makers and anyone working in the competition field. Virtual Competition is a fast-paced, mind-boggling thriller that you can’t put down; a thriller in which we are all set to be the victim. (Alan Giles, Saïd Business School, University of Oxford)

Virtual Competition provides an intriguing and provocative look at the potential dark side of big data and big analytics. The debate over digital competition is just beginning, and Ezrachi and Stucke have laid down a marker that is likely to capture wide attention. (Jonathan Levin, Stanford Graduate School of Business)

Ezrachi and Stucke’s insights into data-driven opportunities, collusion scenarios, discrimination, and ‘frenemies’ will help authorities distinguish between true efficiencies and anti-competitive problems, and ensure that most enforcement at least keeps up with technological developments. Forward-thinking competition authorities can use these insights proactively to help craft government policies that ensure that innovation and competition are real, while problems are addressed quickly and thus―hopefully―remain virtual. (Philip Marsden, Inquiry Chair, Competition and Markets Authority)

A thought-provoking, clearly written examination of the coming effects on markets and competition of computer algorithms, big data, big analytics, and ‘super-platforms,’ drawing on real-life examples, on neoclassical and behavioral economics, and on the authors’ deep understanding of U.S. and EU competition law. (Harry First, New York University School of Law)

About the Author
Ariel Ezrachi is Slaughter and May Professor of Competition Law at the University of Oxford.

Maurice E. Stucke is Professor of Law at the University of Tennessee and co-founder of The Konkurrenz Group.

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